Welcoming remittances from Gen Z working with high salaries abroad

Mobilizing remittances in the new period requires policies and products that attract young people, Gen Z and Gen Y generations living and working abroad.

Ms. Wu, Pin Chen Ngo Pham Tran (overseas Vietnamese in Taiwan) thinks that Ho Chi Minh City should have more international promotion programs in the coming time - Photo: TTD

On January 18, Ho Chi Minh City leaders met with overseas Vietnamese representatives at the city People's Committee headquarters and attended the conference "Policy project to effectively promote remittance resources in Ho Chi Minh City from now until 2030". Many enthusiastic opinions of overseas Vietnamese from other countries were raised, showing the desire to contribute from overseas Vietnamese all over the world .

Building an Overseas Vietnamese Impact Index

As the founder of the Vietnamese Student Association in Australia, the Vietnam - Australia Innovation and Startup Network, and the Young Entrepreneurs Club in Australia, Mr. Nguyen Phuc Binh said that currently, the young generation of Vietnamese people living far from home is very dynamic, they have the need to invest in the country but are struggling due to lack of information.

Therefore, Mr. Nguyen Phuc Binh proposed that the city should have more products and promotions, as well as policies focusing on this group. Mr. Binh also proposed to build an Overseas Vietnamese Impact Index.

This index will evaluate the effectiveness of overseas Vietnamese resources' impact on the economy , such as evaluating the total remittances invested in production, business or technology sectors.

In addition, it is possible to consider factors such as guidance programs implemented by overseas Vietnamese with students, young generations, or providing scholarships, startups; measuring indexes of patents, overseas Vietnamese transferring back to the country and being able to impact society through volunteer projects...

"This index set must be clearer and more transparent to ensure high resonance," said Mr. Binh.

Establishment of the Association of Remittance Companies

According to many experts, Ho Chi Minh City has many advantages in the face of new waves of foreign investment in Vietnam. In particular, mobilizing remittances in the new period requires policies and products to attract young people, Gen Z and Gen Y generations living and working abroad to send money back to Vietnam to invest and accumulate assets.

Overseas Vietnamese give advice to Ho Chi Minh City to attract more investment and development capital - Photo: TTD

According to Ms. Vu Thi Huynh Mai - Head of the Committee for Overseas Vietnamese in Ho Chi Minh City, there are currently nearly 3 million overseas Vietnamese with connections to Ho Chi Minh City out of a total of about 6 million overseas Vietnamese living and working in over 130 countries and territories.

Remittances in 2024 will reach about 9.6 billion USD, an increase of 140 million USD compared to the previous year. Recently, overseas Vietnamese from many countries have discussed together the directions, solutions, and ways to attract remittances and contribute to the homeland.

In the field of remittances, when issuing the project, Ho Chi Minh City also sought opinions from many experts, surveyed the needs of overseas Vietnamese, and noted common wishes. When implementing, there was also a clear division of responsibilities between departments.

"It is expected that by the second quarter of 2025, the city will establish an association of remittance companies in the city. Because to attract remittances, first of all, there must be policies and professional tools to discuss more clearly the goals and improve the quality of services for overseas Vietnamese to the city," said Ms. Mai.

In addition, to continue improving the quality of remittances, the Ho Chi Minh City Committee for Overseas Vietnamese will also support media service companies to work with embassies and business associations of other countries to survey the market and understand the needs of overseas Vietnamese.

Within the framework of the program Meeting of Overseas Vietnamese to celebrate the Spring of At Ty 2025 in Ho Chi Minh City, on January 17, a delegation of outstanding overseas Vietnamese came to offer incense and flowers at Ben Duoc Martyrs Memorial Temple; participated in local connection activities; social and cultural activities, and gratitude in Cu Chi district, Ho Chi Minh City.

Source: https://tuoitre.vn/don-kieu-hoi-tu-the-he-gen-z-lam-viec-luong-cao-o-nuoc-ngoai-20250118134620841.htm